The property at 2 Tilba Street, Narooma – is a unique opportunity combining secure commercial income today with exciting flexibility for the future.
Originally a residential home, the property has been extensively renovated and converted for commercial use, creating a spacious and highly functional premises of approximately 181sqm plus a garage. The property retains a number of distinctive Art Deco features, including original-style doors and period light fittings, keeping character and charm to the modernised space.
Currently leased to an established commercial tenant, the property is generating over $57,000 per annum, with approximately 5.5 years remaining on the current lease, providing investors with strong income security from day one.
The versatile floorplan includes multiple consulting/office rooms, a kitchen, bathroom/laundry facilities, additional WC, foyer/reception areas and excellent outdoor spaces including a large deck and rear patio.
What really sets this property apart is its long-term flexibility. Having originally been a home, the layout retains many residential characteristics and could potentially be converted back to residential use in the future, subject to zoning, planning and Council requirements.
Property Highlights
Current commercial investment returning $57,000+ per annum
Approximately 5.5 years remaining on the existing lease
Extensively renovated and well-presented premises
Ducted A/C throughout and multiple solar panels for generating energy
Approximately 181sqm of internal area plus 6.8m x 6m garage
Multiple offices/consulting rooms
Water glimpses from the lounge room and front porch
Kitchen, bathroom/laundry and additional WC
Large 7.7m x 3.5m deck plus rear patio
Approx 200 sqm fully fenced backyard with dual access from Tilba lane at the back of the block - for extra storage or more car parks/sheds or extra housing
Originally constructed and configured as a residential home
Potential for future residential conversion, subject to relevant approvals
An appealing combination of income now and options for the future
Invest today, plan for tomorrow. With a secure commercial lease providing immediate income and the underlying flexibility of a property originally designed as a home. Property offers an investment proposition rarely found in Narooma.
Council Rates = $6,792.00 paid by the tenants
Permanent Rental Estimate: $ 57,000 @ 4.5%
*DISCLAIMER: While Whale Coast Realty have taken all care in preparing this information and used their best endeavours to ensure that the information contained therein is true and accurate, but accept no responsibility and disclaim all liability in respect of any errors, inaccuracies or misstatements contained herein. Whale Coast Realty urge prospective purchasers to make their own inquiries to verify the information contained herein.*
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